Even as some analysts are predicting possible doom-and-gloom for clean fuels in the wake of the U.S. Senate's recent vote to eliminate ethanol incentives, those in the business of transportation fuels are marching ahead in the face of uncertainty.
It was a strong week for the broad stock markets and an even stronger week for clean tech sectors, capped off with a bonanza for shareholders of San Jose, California-based solar panel company SunPower Corporation (NASDAQ: SPWRA). SunPower and French oil multinational Total S.A. (NYSE: TOT) announced late Thursday that Total was buying 60% of SunPower for approximately $1.4 billion at $23.25 per share -- lifting the stock to close today at $21.69 per share, 34.5% higher than Thursday’s close and up 36% for the week.
Shares of Syntroleum Corporation (Nasdaq: SYNM) rose 23.5% Wednesday to $1.94 (market cap $152.7 million) -- but retreated 6% at mid-session today -- on no reported news other than the company’s announcement Tuesday that it would report Fiscal 2010 results and an update of the company’s biodiesel plant on March 15. The plant, located in Geismar, Louisiana, is the largest commercial scale biodiesel facility in the U.S. at a reported capacity of 2,500 barrels per day.
(OTHER NEWS: Green Plains Renewable Energy, Inc., Fuel Systems Solutions, Inc.)
The share price might have fallen more had not investors received some good news with the bad: The company’s new biodiesel plant at Geismar, Louisiana, the largest commercial scale biodiesel facility in the United States, is now producing and selling biodiesel formulated as jet fuel to the United States Air Force Research Laboratory.
Other news: EnerNoc, Inc. (NASDAQ: ENOC), LDK Solar Co. Ltd. (NYSE: LDK), JA Solar Holdings Co. Ltd. (NYSE: JASO)
The EnergyBoom Biofuel Subindex (E•B Biofuel) has increased 4.53 percent in the period October 1 through October 19, outperforming the green ETFs and broad markets regularly covered by EnergyBoom.